Insurance news

• Harvey pounds P&C stocks as it inundates Houston

  28-08-2017 21:57
  Harvey began battering insurers on Wall Street today as shares
  in several carriers with significant commercial exposure in Texas
  fell in early trading as the storm dumped torrential rains on the
  Houston area.
  Led by Assurant and Travelers, whose stock lost 3.1 percent and
  2.7 percent respectively, others with eroding share prices included
  CNA, Chubb and American International Group.
  All five are among the top 10 in terms of exposure to commercial
  losses in Texas according to Moody's Investors Se
  
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• Harvey exposes NFIP faults, analysts and advocates say

  28-08-2017 21:57
  Flooding in the Houston area from Hurricane Harvey's
  torrential rains highlights key deficiencies of the National Flood
  Insurance Program (NFIP), according to analysts and reform
  advocates: inadequate flood zone maps and zero incentive to extend
  coverage outside those zones.
  More than half the properties at risk of inundation in the
  Houston area lie outside the zones where homes financed by
  federally backed mortgages must carry flood insurance, typically
  provided by NFIP, according to an analysi
  
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• QBE's Grant Clemence on moving CSR forward

  28-08-2017 07:00
  Insurers have long been supporters of charities but QBE Foundation's chairman Grant Clemence says insurers must think more ambitiously about their corporate social responsibility.
  
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• Blog: Insurers should support replacement of lead pipes

  28-08-2017 07:00
  Insurers should fund the replacement of lead pipes, instead of having them repaired, urges Chris Cowen, client relationship manager at Auger, arguing this will cut claims in the long term.
  
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• Flood loss estimates set to climb as Harvey inundates Texas

  28-08-2017 03:06
  As Harvey continues to dump huge amounts of rain on Texas,
  industry sources are beginning to talk of an industry wind and
  flood insured loss in the region of $8bn, excluding National Flood
  Insurance Program (NFIP) claims.
  With early insured loss estimates for wind damage in the low
  single digit billions, the focus is on a "historic" flood
  event that could deliver significantly higher losses.
  The NOAA Weather Prediction Center believes Harvey has already
  dropped as much water on Houston...
  
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